Ready-to-Drink Beverages Market Expected to Cross USD 1149.7 billion by 2030

Ready-to-Drink Beverages Market Report Scope -

The SNS Insider report indicates that the Ready-to-Drink Beverages Market was valued at USD 710.56 billion in 2022, and it is projected to achieve a market size of USD 1149.7 billion by 2030, with a compound annual growth rate (CAGR) of 6.2% expected over the forecast period from 2023 to 2030.

Ready-to-Drink Beverages are packaged flavored/carbonated drinks, which are available for direct consumption in the market. One of the key drivers for the global Ready-to-Drink Beverages Market is convenience and instant nature offered by RTD drinks. In addition, the market for RTD beverages is also influenced by changes in consumer preferences as well as a busy lifestyle. Moreover, RTD tea and coffee account for around 40% of global sales.

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Key Players Covered in this market report are:

Coca-Cola Company
Abbott Laboratories Inc
Bacardi Limited
Pernod Richard
Suntory Holdings Ltd
Yakult Honsha Co. Ltd
PepsiCo
Del Monte Foods Inc
Monster Beverage Corporation
Diageo PLC
Red Bull GmbH
Nestlé S.A.

Market Growth Factors -

The ready to drink beverage market is expected to be driven by increasing urbanization and growing demand for flavored drinks and fruit juice across the globe. In order to appeal to customers, companies in the ready to drink beverages market are focusing on the branding and packaging of products. In addition, market growth is driven by the increasing number of product launches combined with innovative marketing campaigns. In addition, the market growth is likely to be positively influenced by consumers' willingness to drink more healthy refreshing drinks deriving from a variety of ingredients. In addition, the sales performance of ready to drink beverages is expected to improve as a result of easy access to the product with increased consumer touch points.

Segmentation Analysis -

In 2022, the segment of spirits-based cocktails accounted for more than 43.9% of the market and is expected to remain dominant throughout the forecast period. These cocktails are typically made with up to 5% alcohol and contain other ingredients, such as juices, that can be found in single serving containers which have a wide range of flavors.

In 2022, the bottle packaging segment accounted for the largest revenue share of more than 57.9%, making it the dominant segment on the global market. The concept of RTD cocktails was first introduced in bottle packaging, which has been widely adopted throughout the world. However, in countries such as the U.S., there has been a shift to glass bottles because of an aluminium shortage. In the global RTD cocktail market, this trend has resulted in an increase of demand for glass bottles.

Ready-to-Drink Beverages Market Segmentation as Follows:

By Product Type
RTD Tea
TRD Coffee
Dairy products
Energy drinks
Fortified and Flavoured Water
Carbonated drinks
Other

By Distribution Channel
Convenience/Grocery Stores
Specialty Retail Stores
Supermarkets/Hypermarkets
Online Stores
Other

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Key Regional Development -

The North American market accounted for more than 33.5% of total revenues in 2022. Throughout the forecast period, this regional dominance is projected to persist. Increasing demand for vodka and whiskey beverages in the region is likely to be a major driver of market growth. These ready cocktails are attractive to young consumers because of their low alcohol content and affordability compared to those served in bars.

During the forecast period, the US market is expected to grow at a compound annual growth rate of 13.4%. In 2021, Europeans aged 15 years and above drank 9.6 liters of alcohol, consisting of 24 litres of spirits, 80 litres of wine or 190 litres of beer, according to a World Health Organisation report. The growth of the RTD cocktails market in Europe is driven by convenience options and ease of use. In 2022, the region had a second largest market share of 27.2%. In 2022, the UK market accounted for 22.2% of this region's share.

Key Takeaway's-

The manufacturers are developing products that contain no calories or zero calorie sweeteners like stevia. In order to increase their functionality, they are also using herbs and ayurveda ingredients in the products. The demand for these drinks is expected to increase as an alternative to carbonated beverages, along with the growing number of diabetics around the world. Consumers, in particular fitness enthusiasts, are increasingly turning to ready drinking drinks with function benefits as a result of growing health and wellbeing trends. Functional ready to drink beverages are a good source of antioxidants, protein, and probiotics with no to low sugar. Moreover, dairy-free and vegan drinks are increasingly gaining traction among lactose-intolerant people as healthy on-the-go beverages.

Recent Developments -

In February 2022, PepsiCo launched Nitro Pepsi, its first nitrogen infused cola under the cola category in the U.S. market. The company was using widget technology, which is commonly found in coffee or beer products and applied to the cola category so that Nitro Pepsi could produce a smooth, foamy texture.

In April 2023, Absolut launched three flavors of RTD cocktails. Coffee, strawberry and passion fruit are also included in these flavours. In May 2023, the new product range was launched in the United Kingdom with only 5% ABV.

Table of Content - Analysis of Key Points

1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession on Major Economies
5. Value Chain Analysis
6. Porter's 5 forces model
7. PEST Analysis
8. Ready-to-Drink Beverages Market Segmentation, By Product Type
9. Ready-to-Drink Beverages Market Segmentation, By Distribution Channel
10. Regional Analysis
11. Company Profiles
12. Competitive Landscape
13. Conclusion

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This release was published on openPR.